RXO (NYSE:RXO) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

RXO (NYSE:RXO) posted its earnings results on Thursday. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01, Briefing.com reports. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $956.19 million. During the same quarter last year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis.

RXO Stock Up 3.8 %

RXO stock traded up $1.08 during midday trading on Friday, reaching $29.79. The stock had a trading volume of 1,613,273 shares, compared to its average volume of 861,338. RXO has a 12 month low of $17.29 and a 12 month high of $32.82. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. The firm’s 50-day moving average price is $27.81 and its 200 day moving average price is $25.68.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RXO shares. Citigroup assumed coverage on RXO in a research note on Wednesday, October 9th. They set a “buy” rating and a $33.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on shares of RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. TD Cowen boosted their price target on shares of RXO from $23.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group decreased their price objective on shares of RXO from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, UBS Group upped their target price on RXO from $22.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.23.

RXO Company Profile

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.